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'Nanobusiness' - A Trillion Dollar Missed Opportunity for ICT Providers, says Omnisperience

'Nanobusiness' - A Trillion Dollar Missed Opportunity for ICT Providers, says Omnisperience Image Credit: alphaspirit/Bigstockphoto.com

Tech firms, and particularly telecoms service providers, are overlooking a huge and lucrative opportunity – the nanobusiness, says Omnisperience, the leading provider of B2B service provider industry insights and market strategies.

Omnisperience defines a nanobusiness as a business that employs less than one full time worker. It encompasses businesses that sell goods, creativity, services, labour or influence, as well as those that allow the commercial sharing of something that the person already owns.

The business market is traditionally divided into large enterprise, SME and microbusiness segments; but over the last few years the digital capabilities provided by ICT companies has resulted in the emergence of a new type of small business, which Omnisperience has termed the ‘nanobusiness’.

Omnisperience argue that despite all the column inches about how tech firms will monetise 5G, FTTP and IoT etc, because they are focusing just on technology they are overlooking a big change in the composition of the business market that could help them generate substantial new revenues and which will influence and drive trillions of dollars of spending in the next 5 years.

According to Omnisperience, the nanobusiness sector is an important one for ICT companies for two reasons:

 - nanobusinesses rely on their mobile devices as essential tools to sell their labour, goods and services, and to connect with customers. They also need a host of other ICT services to enable them to create, deliver their services and run their businesses

 - bigger businesses that want to utilise the services of nanobusinesses require communications, collaboration and cloud-based solutions to acquire and manage the skills they need, distribute work, and organise workers from anywhere in the world.

“The side gig is going mainstream and is a huge opportunity,” says Omnisperience Chief Analyst Teresa Cottam. “Nanobusinesses are breaking down the barriers between work and play, liberating labour and services from location, and driving new forms of flexible working that allow people to work when it suits them. They are opening up new pools of workers who previously found it hard to work in a more formal environment."

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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